fx open
IC Markets
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Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, while IC Markets was established in 2007 and is based in Australia. fx open holds licences including Financial Conduct Authority (FCA), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. fx open serves 60,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $250 at fx open and $200 at IC Markets.
| Feature | fx open | IC Markets |
|---|---|---|
| Min. Deposit | $250 | $200 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F238 | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2019 | 2007 |
| Country | Puerto Rico | Australia |
| Clients | 60,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between fx open and IC Markets, directly affecting your bottom line as a trader. IC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $250 at fx open). Neither broker charges withdrawal fees. IC Markets charges deposit fees; fx open does not. Overall, IC Markets scores higher on fees in our assessment.
| Feature | fx open | IC Markets |
|---|---|---|
| Min. Deposit | $250 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
fx open offers MT4, MT5, cTrader, while IC Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. IC Markets supports social and copy trading features, which fx open does not offer. The two brokers are closely matched on platform offering.
| Feature | fx open | IC Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fx open and IC Markets compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. IC Markets scores higher overall in education and research.
| Feature | fx open | IC Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fx open accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while IC Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | fx open | IC Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fx open and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | fx open | IC Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more |